Bloomberg News

Turkish Stocks: Akfen, Tupras, Ipek, Yapi Kredi Sigorta Move

June 27, 2012

Turkey’s benchmark ISE National 100 Index (XU100) rose 1.8 percent to 61,184.33 at the close in Istanbul, paring its quarterly decline to 2 percent. The gauge is up 19 percent for the year.

The following shares were active. Stock symbols are in parentheses.

Akfen Holding AS (AKFEN) , a Turkish builder, added 2.5 percent, the biggest rise since April 26, to 9.16 liras, after its unit TAV Insaat said it won an auction to build a terminal at Abu Dhabi Airport at a cost of more than $3 billion with partners.

Ipek Dogal Enerji Kaynaklari Arastirma & Uretim AS (IPEKE TI), a Turkish energy company, advanced 4.6 percent to 3.86 liras, after saying it started oil exploration at a site in the southeastern province of Batman. The company’s shares surged as much as 8.7 percent in intraday trading to the highest level since listing in June 2000.

Tupras Turkiye Petrol Rafinerileri AS (TUPRS) , Turkey’s oil refiner, climbed for a second day, up 2.2 percent at 37.10 liras, the biggest gain in two weeks, after ING Groep NV (INGA) included the company in its top picks.

Yapi Kredi Bankasi AS (YKBNK TI), the Turkish bank part- owned by UniCredit SpA (UCG), jumped 5 percent to 3.66 liras, the highest in almost three months, after the lender said it was evaluating the possibility of selling stakes in units Yapi Kredi Sigorta AS (YKSGR) and Yapi Kredi Emeklilik AS.

Yapi Kredi Sigorta AS (YKSGR TI), a Turkish insurance company, surged to the highest level in more than a year, up 9.4 percent to 17.4 liras, after parent Yapi & Kredi Bankasi AS said it is assessing options to sell a stake in the unit. The stock is up 13 percent in the second quarter.

To contact the reporter on this story: Sibel Akbay in Istanbul at

To contact the editor responsible for this story: Gavin Serkin at

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